Nanjing Sciyon Automation Group Co Ltd Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Weaker technical forecast for Nanjing Sciyon Automation Group Co Ltd as stock downgraded to Hold/Accumulate.
(Updated on May 31, 2024)
The Nanjing Sciyon Automation Group Co Ltd stock price gained 1.29% on the last trading day (Friday, 31st May 2024), rising from ¥18.57 to ¥18.81. During the last trading day the stock fluctuated 2.70% from a day low at ¥18.52 to a day high of ¥19.02. The price has been going up and down for this period, and there has been a 0.7% gain for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 329 thousand more shares were traded than the day before. In total, 4 million shares were bought and sold for approximately ¥69.38 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 22.80% during the next 3 months and, with a 90% probability hold a price between ¥18.22 and ¥24.90 at the end of this 3-month period.
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002380.SZ Signals & Forecast
The Nanjing Sciyon Automation Group Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at ¥18.79 and ¥16.95. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, May 14, 2024, and so far it has fallen -3.54%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Nanjing Sciyon Automation Group Co Ltd stock
On the downside, the stock finds support just below today's level from accumulated volume at ¥16.19 and ¥16.08. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Nanjing Sciyon Automation Group Co Ltd finds support just below today's level at ¥16.19. If this is broken, then the next support from accumulated volume will be at ¥16.08 and ¥15.85.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥0.500 between high and low, or 2.70%. For the last week, the stock has had daily average volatility of 3.62%.
Our recommended stop-loss: ¥17.93 (-4.68%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 29 days ago.)
Trading Expectations (002380.SZ) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Nanjing Sciyon Automation Group Co Ltd to open at ¥18.78, and during the day (based on 14 day Average True Range), to move between ¥17.77 and ¥19.85, which gives a possible trading interval of +/-¥1.04 (+/-5.51%) up or down from last closing price. If Nanjing Sciyon Automation Group Co Ltd takes out the full calculated possible swing range there will be an estimated 11.02% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥19.00 (1.01%) than the support at ¥16.19 (13.93%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Nanjing Sciyon Automation Group Co Ltd stock A Buy?
Nanjing Sciyon Automation Group Co Ltd holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.
Current score: 0.668 Hold/Accumulate Downgraded
Predicted Opening Price for Nanjing Sciyon Automation Group Co Ltd of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ¥18.78 ( 0.142%) | ¥18.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002380.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.28 | 2.52 % | |
| R2 | 19.09 | 1.50 % | ||
| R1 | 18.97 | 0.87 % | ||
| Current price: | 18.81 | |||
| Support | S1 | 18.59 | -1.16 % | |
| S2 | 18.47 | -1.78 % | ||
| S3 | 18.28 | -2.80 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 19.50 | 3.67 % | |
| R2 | 19.01 | 1.06 % | ||
| R1 | 19.00 | 1.01 % | ||
| Current price | 18.81 | |||
| Support | S1 | 16.19 | -13.93% | |
| S2 | 16.08 | -14.51% | ||
| S3 | 15.85 | -15.74% |
002380 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jul 13, 2022 | Jul 13, 2022 | Jul 13, 2022 | ¥0.0400 | 0.322% |
| 2 | Jul 12, 2021 | Jul 12, 2021 | Jul 12, 2021 | ¥0.300 | 2.19% |
| 3 | Jun 17, 2020 | Jun 17, 2020 | Jun 17, 2020 | ¥0.200 | 1.49% |
| 4 | May 31, 2019 | May 31, 2019 | May 31, 2019 | ¥0.200 | 1.47% |
| 5 | Jun 08, 2018 | Jun 08, 2018 | Jun 08, 2018 | ¥0.150 | 1.06% |
FAQ
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